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Ola Electric lowers FY24 estimate by 60%
short by Harsh / on Wednesday, 6 December, 2023
Ola Electric, which sells e-scooters, has reported consolidated revenues of Rs 2,782 crore in FY23, a 6X jump from the previous year. Losses, however, doubled to Rs 1,472 crore. The IPO-bound company has revised the estimates for FY24, as it sees slower sales following the government's decision earlier this year to lower subsidy levels for electric vehicles.
read more at The Arc